Q3 sales are forecast at $14.25 million-$16.25 million, with adjusted EBITDA seen at about $0.7 million at the midpoint.
Q2 results
Airgain posted Q2 sales of $13.7 million, up 19.1% sequentially, with a GAAP net loss of $1.7 million, or $0.13 a share.
Non-GAAP results swung to net income of $284,000, or $0.02 a share, from a loss in the prior quarter; adjusted EBITDA turned positive at $380,000.
GAAP gross margin slipped 0.9 percentage points to 42.3% versus Q1 on an unfavorable customer sales mix shift and lower consumer margin on product mix.
Segment performance
Enterprise sales rose to $6.7 million on higher IoT modem shipments, while automotive increased to $1.2 million on higher vehicle gateway shipments.
AIRG•
